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Direct MessagesDate/Time: Sat, 18 May 2024 07:24:56 +0000
Looking to create the RSI Index
View Count: 803
| [2020-01-27 05:44:33] |
| TropicalTrader - Posts: 37 |
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Hi, I would like your help please to create the oscillator RSI Index as described in the book Trading Secrets of the Inner Circle by Andrew Goodwin: "Basic Method of calculating the RSI index: RSI Index =100-(100/1+RS) Where RS= Average of x day's up close to close changes divided by average of x day's down close to close changes. For 8 day RSI you will be averaging the close to close changes of the last 8 up days. Then you will divide this figure by the average close to close changes of the last 8 down days." |
| [2020-01-27 06:04:50] |
| Sierra_Chart Engineering - Posts: 14423 |
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We can probably just do this for you. We will check on this and get back to you.
Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2020-01-29 20:46:13] |
| SC Support Tom - Posts: 450 |
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I am not seeing how this is different from the RSI that we already have. Can you explain how it is different? I do not have Goodwin's book.
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| [2020-01-31 05:09:21] |
| TropicalTrader - Posts: 37 |
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Hi, thanks a lot for getting back to me. I've decided not to use this in my automated strategy so I don't need it anymore. In case someone else is interested in this later, what I posted in this thread is the complete info that was in the book on how to create the RSI Index. It does seem different then standard RSI, good info on this page for that: https://www.investopedia.com/terms/r/rsi.asp |
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